Browsing by Author "Sulamaa, Pekka"

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Electricity market models as an analysis tool for a transmission system operator - A comparative assessment within Nordic experience
(2010) Rajakaski, Aleksi
School of Engineering | Master's thesis
This study assesses a suitable market analysis tool for a Nordic transmission system operator (TSO). The focus is on the electricity markets in the Baltic Sea region characterized by the significant share of hydropower, in the Nordic countries, the large degree of electricity market deregulation, and the multi-country day-ahead electricity trading via Nord Pool power exchange. Several market modelling approaches area analyzed for the market analysis purposes of a TSO. Market models applying a bottom-up approach are found to be the most suitable due to their ability to simulate the interactions between the market players while satisfying detailed technological constraints. Four electricity market models applying bottom-up description of the markets are analyzed including EMPS, BID, SDDP, and WILMAR. The main features of these models are summarized and the suitability of these models is assessed for the purposes of a TSO operating in the Baltic Sea region. Features of EMPS and SDDP models are found to be fairly similar and thus they are concluded equally suitable for the market analysis purposes of a TSO operating in the Baltic Sea region. The BID model is considered suitable as well. The main differences between these three models relate to the accuracy of the market simulation and to the level of detail applied for representing hydropower, thermal power, and transmission grid. The modelling of hydropower applied in WILMAR is considered inaccurate for analyzing the electricity markets in the Baltic Sea region. Both the qualitative aspects and the quantitative properties of the BID model are compared against those of the EMPS model, the de facto electricity market model among the Nordic market players. The comparison indicates that BID is more user-friendly than EMPS and that the hourly time resolution, applied in the BID model, contributes to the market behaviour when simulating an electricity market with intermittent generation. However, the hydropower modelling is considered more realistic in the EMPS model. Finally, a market analysis is executed using the BID model. The analysis measures the effects of a grid investment on the electricity markets of the Baltic Sea region. The analysis further reinforces the arguments for the BID model as a comprehensive analysis tool for a TSO to supplement the EMPS model. The BID model is considered especially suitable for analyzing electricity markets dominated by thermal generation.
Essays in deregulated Finnish and Nordic electricity markets
(2001) Sulamaa, Pekka
School of Business | Doctoral dissertation (article-based)